Without a follow-through day in the mix yet, we are still tracking our short-sale targets here. AMZN is pushing up towards its 200-dma at around 200, AAPL is pushing up into potential resistance at its 50-dma at around 392-393, CRM is pushing up into the bottom of the gap-down move or "falling window" of November 18th at around 120, and BIDU has pushed right up into its 200-dma at around the 135 level.
TIBX may be on the right side of a Punchbowl of Death or POD formation. A short here would use the 20-day moving average at 28.18 as a guide for an upside stop.
We are and will continue to test shorts into this rally as long as the action is 1) within the boundaries of where we think logical rallies will go to, and 2) the market is not in a bona fide and confirmed rally phase. A follow-through day would, of course, provide evidence for 2), but this may turn out to be a market of stocks rather than a stock market where one can focus on individual names.
This information is provided by MoKa Investors, LLC DBA Virtue of Selfish Investing (VoSI) is issued solely for informational purposes and does not constitute an offer to sell or a solicitation of an offer to buy securities. Information contained herein is based on sources which we believe to be reliable but is not guaranteed by us as being accurate and does not purport to be a complete statement or summary of available data. VoSI reports are intended to alert VoSI members to technical developments in certain securities that may or may not be actionable, only, and are not intended as recommendations. Past performance is not a guarantee, nor is it necessarily indicative, of future results. Opinions expressed herein are statements of our judgment as of the publication date and are subject to change without notice. Entities including but not limited to VoSI, its members, officers, directors, employees, customers, agents, and affiliates may have a position, long or short, in the securities referred to herein, and/or other related securities, and may increase or decrease such position or take a contra position. Additional information is available upon written request. This publication is for clients of Virtue of Selfish Investing. Reproduction without written permission is strictly prohibited and will be prosecuted to the full extent of the law. ©2021 MoKa Investors, LLC DBA Virtue of Selfish Investing. All rights reserved.